The local market has followed the lead from overseas markets today and is up strongly. On the daily chart it has moved up out of a congestion pattern and we bought five ASX 200 cfd’s.
The pattern on this weekly chart could be interpreted as a bearish flag type pattern. You could say the market is in a state of flux with an equal number of bulls and bears as the earnings season in the US unfolds.
The Nasdaq index has made a number of higher lows but is yet to move above the current resistance zone.
Whitehaven Coal is on the rise after their latest update. Price has cleared previous resistance highs and we added an additional holding to the educational portfolio. It will be interesting to see how the company distributes their huge amount of cash.
Life 360 is still working to clear the resistance zone.
After finally moving up above the $1 level we added some more Brainchip Holdings to the educational portfolio.
Ardent Leisure looks to be building towards a move higher.
An interesting graph of the history of the Australian housing market.
A table showing how the US [email protected] 500 index has performed before, during and after recessions.
Units bought (sold)
From last table
Bought Whitehaven Coal c/f at $2.76
Bought 300 at $2.70
Bought 120 at $20.50
Bought 12 at $260.00
Bought 2,000 at 80c
Bought GGUS ETF
Bought 100 at $24.00
Bought 200 at $16.00
Bought Aristocrat Leisure
Bought 100 at $35.60
Bought Domino’s Pizza
Bought 40 at $72.00
Bought 800 at $3.50
Bought Nasdaq ETF
Bought 100 at $27.00
Bought Pinnacle Investment mgmt.
Bought 300 at $8.20
Bought Whitehaven Coal
Bought 300 at $6.00
$30 per round turn added when sold.
Buy/ close prices and Margin
Prices from Tuesday night or 6am for US positions.
Disclaimer: The commentary and trading positions taken are for educational purposes only and are not an invitation to trade. Trading is risky and individuals should seek Professional counsel before making any financial decisions. Many thanks to Incredible Charts.com software for most of the charts used in the column.
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